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Metro sells Makro UK to Booker Plc in $219 mln deal
May 30, 2012 / 6:32 AM / 6 years ago

Metro sells Makro UK to Booker Plc in $219 mln deal

FRANKFURT, May 30 (Reuters) - German retailer Metro said on Wednesday it would sell its Makro UK stores to Booker Group Plc in a deal valued at 139.7 million pounds ($219 million).

Metro and Booker will combine their wholesale businesses to form a strategic partnership in the United Kingdom.

The German retail group will receive 9.99 percent of Booker’s current issued share capital plus 15.8 million pounds in cash, Metro said in a statement.

Metro added that based on the current value of Makro UK it expects to book a negative non-cash impact on earnings before interest and taxes (EBIT) of around 200 million euros ($250.7 million) in the current quarter.

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